HOUSING AUTHORITY TRANSACTIONS

As bond counsel for numerous housing authority financings throughout the State, the firm has gained significant experience with the multiple financing structures used in the housing bond market, as well as with the restructuring of bond issues. We have served as either bond or underwriters counsel on variable rate housing bonds, senior & subordinate bonds, taxable/tax-exempt combinations, GNMA and FNMA pass-through certificates, and FNMA collateralized security structures. Trespasz & Marquardt, LLP served as Bond Counsel to the Village of East Rochester Housing Authority in connection with it's issuance of GNMA Collateralized Revenue Bonds (The Rochester St. Mary's Residence Facility, LLC Project) in Rochester, New York. This financing of a 120 bed residential health care facility, a 33 bed rehabilitation facility and a 40-bed psychiatric facility was among the first to use the lease structure of housing authorities in New York with the mortgage loan requirements of GNMA collateralized financings, enabling the borrower to realize the benefits of the triple-A rating assigned to such transactions.